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    Small Audit Firm Engagement Letter

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    fredrick kibuli
    The auditor, Apex Associates, has been engaged to audit Scribd International's financial statements for the year ended 31 March 2019. Joseph Charles will lead the audit engagement and ensure quality service is provided. The audit will be conducted according to international standards to obtain reasonable assurance that the financial statements are free from material misstatement. Management is responsible for preparing accurate financial statements and maintaining adequate accounting records and internal controls, while the auditor will issue a separate letter on any material weaknesses identified. Fees for the audit are proposed at TZS 4,500,000 to be paid in two installments.

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    Small Audit Firm Engagement Letter

    Uploaded by

    fredrick kibuli
    55 views2 pages
    The auditor, Apex Associates, has been engaged to audit Scribd International's financial statements for the year ended 31 March 2019. Joseph Charles will lead the audit engagement and ensure quality service is provided. The audit will be conducted according to international standards to obtain reasonable assurance that the financial statements are free from material misstatement. Management is responsible for preparing accurate financial statements and maintaining adequate accounting records and internal controls, while the auditor will issue a separate letter on any material weaknesses identified. Fees for the audit are proposed at TZS 4,500,000 to be paid in two installments.

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    template for engagement letter used by small audit firms

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    The auditor, Apex Associates, has been engaged to audit Scribd International's financial statements for the year ended 31 March 2019. Joseph Charles will lead the audit engagement and ensure quality service is provided. The audit will be conducted according to international standards to obtain reasonable assurance that the financial statements are free from material misstatement. Management is responsible for preparing accurate financial statements and maintaining adequate accounting records and internal controls, while the auditor will issue a separate letter on any material weaknesses identified. Fees for the audit are proposed at TZS 4,500,000 to be paid in two installments.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    55 views2 pages

    Small Audit Firm Engagement Letter

    Uploaded by

    fredrick kibuli
    The auditor, Apex Associates, has been engaged to audit Scribd International's financial statements for the year ended 31 March 2019. Joseph Charles will lead the audit engagement and ensure quality service is provided. The audit will be conducted according to international standards to obtain reasonable assurance that the financial statements are free from material misstatement. Management is responsible for preparing accurate financial statements and maintaining adequate accounting records and internal controls, while the auditor will issue a separate letter on any material weaknesses identified. Fees for the audit are proposed at TZS 4,500,000 to be paid in two installments.

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    16 April 2019

    Managing Director,
    Scribd International,
    Dar es Salaam,
    Tanzania.

    RE: LETTER OF AUDIT ENGAGEMENT

    We thank you indeed for engaging Apex Associates, as your Independent Auditors for the
    year ended 31.3.2019. Mr Joseph Charles will be the engagement partner leading the
    team and responsible for all the services we perform for you and it will be his
    responsibility to make sure that your company receives quality service.

    Where compatible with our independence as auditors, we would also like to give you any
    help we can with problems, which may arise during the year. Please do not hesitate to
    contact us whenever you feel we can be of assistance.

    Objective
    Our audit will be made with the objective of expressing an opinion on the financial
    statements.

    Our Responsibilities
    We will conduct our audit in accordance with International Standards on Auditing. Those
    Standards require that we plan and perform the audit to obtain reasonable assurance
    about whether the financial statements are free of material misstatements. An audit
    includes examining, on a test basis, evidence supporting the amounts and disclosures in
    the financial statements. An audit also includes assessing the accounting principles used
    and significant estimates made by management, as well as evaluating the overall financial
    statement presentation.
    Because of the test nature and other inherent limitations of an audit, together with the
    inherent limitations of any accounting and internal control system, there is an unavoidable
    risk that even some material misstatements may remain undiscovered.
    In addition to our report on the financial statements, we expect to provide you with a
    separate letter concerning any material weaknesses in accounting and internal control
    systems which come to our notice.

    Management’s Responsibility
    We remind you that the responsibility for the preparation of financial statements,
    including adequate disclosure, is that of the management of the organization. This
    includes the maintenance of adequate accounting records and internal control, the
    selection and application of accounting policies and the safeguarding of the assets of the
    organization. As part of our audit process, we will request from management written
    confirmation concerning representations made to us in connection with the audit.

    Access to Records
    We look forward to full cooperation with your staff and we trust that they will make
    available to us whatever records; documentation and other information are requested in
    connection with our audit.
    You also further agree that (the auditor) can, upon request by NBAA, provide the audit
    files to NBAA for the purpose of audit quality review (AQR). The NBAA reviewers will be
    required to observe confidentiality and will be bound by the same confidentiality
    provisions that apply to auditors with respect to their client.

    Our Fees Structure


    We shall charge our audit fees based on the amount of time spent on, and the expertise
    applied to your affairs by staff at various levels of responsibility. Our proposal for the
    Audit fee is TZS.4,500,000 exclusive of disbursements and VAT. The fee is payable as
    under:

     50% on commencement of the audit,

     50% on submission of signed audited financial statements.

    Agreement

    If the above terms and conditions are acceptable to you and the services outlined are in

    accordance with your understanding and expectations, please sign in the space below.

    Yours faithfully,

    Joseph Charles

    Partner ......………………………...............................

    Accepted on behalf of the Management of: SCRIBD INTERNATIONAL

    Signature: ......………………………...............................

    Signed by: ....................................……………………….

    Position: ....................................……………………….

    Date: ....................................……………………….

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